Deal Snapshot
SPRUCE FINANCE EXPANDS OPERATING PORTFOLIO WITH ACQUISITION
Thursday 18 July 2019

Texas, US-based solar and residential energy assets provider Spruce Finance has acquired a portfolio of 2,000 residential assets to expand its operating portfolio and servicing platform, the company said. Spruce's acquisition of the fund, consisting of 2,169 residential solar systems totaling 12.1mw, brings Spruce's portfolio of operational solar assets to 173mw of primarily residential solar assets serving over 25,000 customers across 11 states.

The transaction follows a recent USD 50m equity investment from Spruce's owner HPS Investment Partners, a global investment firm with over USD 48bn of assets under management, as well as a USD 208m debt financing completed earlier this year.


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Details
Date Published: 18/07/2019
Target: Portfolio of 2,169 residential solar systems totaling 12.1mw
Country: USA
Sector: Alternative Energy
Type: LBO
Status: Closed
Vendor:
Buyer: Spruce Finance
Comment:
Terms of the deal were not disclosed

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